St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1887-01-22
THE. STATE OF TRADE.
A satisfactory Showing for the Re-
ginning Of the New Year.


ginning Of the New Year.
New YORK, Jan. 2I.-R. G. Dunn &
Co. S weekly review says: Southern rail-
way consolidation has been the feature of
speculative markets the past week.
Whether railway consolidation, which at
least has been fruitful mother of monop-
OlieS, will forward Southern industrial de-
velopments is not clear. Nor is it a cues
tion of the interest to operators who look
for large immediate profits from the up-
rising prices of stocks. lands, mines ard
mills. But if another cold wave of specu-
lation should sweep over the South such as
aided in the disasters following 1887, 1857
and 1878 the permanent growth and pros
perity Of that region might not be pro-
NOTED. The swelling tide of industry and
legitimate business recorded in the weekly
bank clearings, railway traffic returns and
elearings outside of New York are the
largest ever known for the season, though
Boston, Providence, Springfield and Portland
in the North and Galveston in the Sou
fall behind last year. All other cities re-
port gains. The aggregate outside of New
York increased 10119 per cent. for the week.
The railroad earnings thus far in January
show large gains over last year. In De-
cember 9S roads gained III per cent, and
for the year 1856 in earnings 915 per cent
against AZ per cent. in mileage. At In
dianapOlis the past week 20 ,42S cars moved
a gain of 80 per cent. over the same week
last year. In many branches the industrial
growth is remarkable. The silk manu-
facture consumed 4, 754, ,626 pounds of raw
silk and 1,611,7 IA Of waste last year.
against 2. 562, 236 in 1885, having more than
doubled since the census. The American
papermakers are filling large orders for
book paper from British publishers, the use
of wood pulp here having given this cOun-
try advantages. Louisiana ground 2. 600, 900
tons of cane last year, averaging 100
pounds of sugar to the ton. but some mills
already boast of $50 to 100 pounds. An
improvement is noted since Dun's Glasgow
estimate is that the worlds production for
1867 will be 1865, 900 tons of sugar.
against 4, 414, 651 in 1885. But this coun-
try consumed 1,033, 962 tons, only 79,-
600 less than Great Britain. Specu-
lation in products has abated. Wheat
sales were only $4,000, 600 bushels, with a
decline of nearly cent. Corn and oats
rose quarter each oil Is of a cent, lard
1-16 and pork 20 cents. Bar iron was ad-
Yanced by the Eastern association to 81
cents and Pittsburg coke makers are dis
cussing an advance. Pig iron and
cotton are unchanged. Coffee de-
clined 35c, sugar sixteenth, and
beef about 10 cents. Fair orders
come for cotton goods, though many buyers
are here. The export and domestic de-
mand for browns is good So far domestic
woolens have better sales, compared with
last year. The foreign attempt to raise
foreign is met by no advance in domestic
cashmeres. Worsted is expected to sell at
last years prices. though the materials are
higher and English Worsted yarns
have advanced I'd. per pound.
There is some hesitation in
opening heavy woolens. The idea prevails
that the demand for woolens generally
may fall below last years, because heavy
consumers bought too largely last year.
Money easy, though foreign exchange
gradually rises. The treasury has taken in
about $500, 600 more than 1t has paid out
but the receipts of silver at the New York
custom house have fallen to II, per
cent Of the whole. Business failures
number for the United States, 276, and
for Canada 25. a total of sol, against
223 last week and 299 the week previous.